LONDON : U.S. investment bank JPMorgan has forecast a 9-10 per cent jump in Chinese stocks by the end of next year if confidence begins to return to the country's giant, but currently spluttering, economy.
"We forecast 10 per cent potential upside in MSCI-China from now to end-2023," JPMorgan's analysts said in note, adding that their target for the yuan-denominated CSI-300 stocks index was a 9 per cent rise to 4,200 points. A combination of support for China's battered property sector and hopes that COVID restrictions will be eased over the next year have lifted the two indexes nearly 13 per cent and 10 per cent respectively over the last 4-6 weeks.
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